Here are some thoughts from my latest podcast The Second Richest Man in the World. You can read this chapter in my latest book Miami Memoirs: Including the Maharani’s Ring available on Amazon.
The Second richest man in the world (my client) was having a dispute with the richest man in the world and I got it settled in two minutes. After I settled the dispute, my client said to me, “Don’t ask why I still work to accumulate money.”
I said, “I already know.” Actually, it’s much more than money. It’s the challenge.
Rich or poor, it’s good to have money. Some famous people have said: “You can’t be too rich or too thin.” Try the Duchess of Windsor, Joan Rivers and the New York socialite Babe Paley.
It costs a large amount to be born, an average of $13,000.00. It also costs a bundle to die! With cremation you can leave this earthly plane for around $5,000.00.
But what about the time in between? The average cost of living is around $38,000 a year and for a family of four, over $85,000.00, and what about taxes?
The biggest concern one should have in this life is medical care. Most people are covered by insurance at their employment. However, there are often deductibles. If you’re not covered by insurance, watch out! The average cost of a visit to the emergency room is over $1,000.00 and in Florida try $3,000.00. You can’t ignore the crazy high bill. The hospital will often turn you over to a collection agency. Your credit can go down the tube. You’ll need an attorney. Note: Every rich person has an attorney. They don’t come cheap.
And who has access to the best doctors and hospitals? Answer: The very rich go to the front of the line. A large donation goes a long way.
So how do you get big money? Inherit it. Okay – marry a rich person, maybe the boss’s son or daughter. Have a successful divorce or two. Zsa Zsa Gabor, the glamorous Hungarian movie star lead the field with nine. She said: “I am a marvelous housekeeper. Every time I leave a man, I keep his house.”
A lesser way of getting rich is winning the lottery, but that’s a long shot. Working your way up from the mailroom is no longer a viable road to success. The answer probably is getting the best education you can. Try a degree in engineering or become a C.P.A., maybe a law degree or of course an MBA. Then get a job, preferably where the action is, namely Wall Street. Dealing in money is a good road to travel. Work hard. Pay off all debt and save, save and save some more. Try starting a business on the side. That seems to be the formula for many millionaires.
Now that I’ve told you how to get rich, I’d like to tell you about the problems that come with it, but maybe that’s for another time. One thing I will say in closing, being the second richest person in the world isn’t that great. ~ Lewis